Goldman Sachs Boosts Efforts to Groom New Leaders

7/8/2014 10:43AM

Goldman Sachs has stepped up its efforts to groom a new generation of leaders, as it broadens the list of executives who could eventually run the Wall Street firm. Aaron Lucchetti joins MoneyBeat. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... been been been been been ... Goldman Sachs is stepping up its efforts to groom a new generation of leaders as it broadens the list of executives who could eventually run the farm ... Wall Street Journal editor and lucidity is here to explain ... sad I this is I your reporter Justin Baer had the story today on of you know what's next for Goldman of ECB should make very clear here that would Blankfein is not going anywhere anytime soon but success succession planning is always something that is ... on people's minds ... what's next indeed succession planning always a big topic on Wall Street always at Goldman Sachs in particular ... while most closely followed Wall Street firms ... and where to position our Lloyd Blankfein the current chairman and CEO has been in the seat for ... about three years as long ... very long tenure and down the other presents ... opportunities and challenges one of the challenges is ... if you are under a person like that and he shows no intentions of leaving the plant and said you know he loves the jockeys ... the latest fifties he can stay for ... a while longer now what is it mean for people who have angles for the same doubts and ... so what ... the story says that basically Goldman's been having these dinners ... of the base they've been trying to groom the message was that that serves Odyssey but the staple is for who could potentially be next to ... buy it as the borders look at the current situation in the top of the farm they realize that Lloyd may stay a while ... a few years ago was on clear the firm was going through the turbulence that this law speculation that he might ... now only stay for a short time ... he seemed to move past that announced so firmly established in in a position where ... no one is really thinking to leave anytime soon ... so with that the board is getting to know more junior executives more junior leaders that the firm ... after spending some other management committees that can give the portal of the more exposure to different people ... I'm ... with the thought that maybe three five seven years down the line ... I'm one of these younger folks might takeover ... rather than the person who would have taken over headlines last ... two or three years ago ... the whole act of trying to reach out to these younger executives and trying to see who could potentially be the one ... is this something that that different new is the son and other banks tend to do a good question and that the banks always talk about doing this it's the it's important thing in succession planning ... I'll lot of things can happen predictably both to the executives and to the environment ... that can make a new leader not necessary or desirable ... C have always a list of some short-term candidates medium term and its long-term candidate to sell ... the really focusing a lot more recently and a median of longer term candidates with an eye for the future and for some of these people who was ... a guest could be the next in line ... well maximize still most likely Gary Condit President CEO Owen Lloyd Blankfein's key lieutenants for many years in fact since he started and that and then CEO DEP Kona spend with them every step of the way ... that if something happened or that change in leadership was necessary Sherk on colonists is most likely the person would get it ... the key six years younger than but I'm so the question becomes if Lloyds is another five or six years which is you know sort of a number out of the year but it's not inconceivable ... um you know the area because to sixty in the question is ... is that ... two oldest are as CEO especially by now but to be too old in general ... but they're a lot of younger candidates doesn't David Solomon Michael Sherwood Steve unsure about ... who are ... rising to the ranks is forever PA to visit next year along with Harvey Schwartz the current CFO ... Goldman Sachs we will Deathly be watching